Polygon (MATIC) briefly surpassed the key (MA 50) barrier at $0.850 on Jan. 10 as its price slightly rebounded. At the time of publication, MATIC was up 2.36% at $0.849. According to staking rewards, MATIC took the top spot for the week in net staking inflow. MATIC saw the highest net staking inflow of $127,993,510, surpassing Ethereum’s $122 million staking inflow. MATIC has also set a new record in staking, as the staking balance reaches an all-time high of 3.55 billion MATIC. MATIC’s staking metrics are currently: a nominal yield of 6.08%, an adjusted yield of 3.30%, and a staking market cap of $2.97 billion. Mastercard is launching a spotlight program for emerging musical artists built on the Polygon blockchain to help up-and-coming creators tap into the power of Web3 and blockchain technologies. Kicking off in spring 2023, the Mastercard Artist Accelerator program will provide five emerging artists—such as musicians, DJs, and producers—with the tools, skills, and access they need to forge their musical paths in the digital economy.
Key Levels
Resistance Levels: $1.150, $1.000, $0.950
Support Levels: $0.800, $0.750, $0.700
MATIC/USD Daily Chart MATIC is currently soaring at $0.85, seeking to break through to the $0.90 zone. The MATIC/USD pair could be on the verge of breaking out toward the bullish zone. If the breakout occurs, a push past the $1.0 level is possible. If the upward pressure continues, bullish traders will almost certainly approach the next horizontal resistance line, which is positioned at overbought RSI levels.
A sustained break out of the $0.80 convergence zone, on the other hand, will indicate that MATIC consolidation from the $0.70 level is not yet complete. If the $0.95 ceiling is retested first, the daily bias could shift to the positive side. A break below the $0.80 level, on the other hand, may result in a lower correction.
MATIC/USD 4-Hour ChartThe MATIC/USD intraday bias is stable, with the focus shifting from $0.85 support to $0.90 resistance. As a result, a continuous breach may imply that the $0.876 pullback was effective. The intraday bias will shift back to the upside to retest this level.
Breaking the MATIC/USD level of $0.876 will indicate a resumption of growth from the level of $0.832. The intraday trend is strengthening once more. The long-term level of $1.0 is the next aim. A break below the minor support level of $0.80, on the other hand, could shift the expected bullish bias to neutral and result in sideways trading.
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